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The Journal Editorial Report

News/Business. Paul Gigot discusses news, politics, society and finance. New. (CC) (Stereo)

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00:30:00

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San Francisco, CA, USA

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Comcast Cable

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Virtual Ch. 760 (FOX NEWS HD)

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mpeg2video

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ac3

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1280

PIXEL HEIGHT
720

TOPIC FREQUENCY

Ohio 5, Obama 5, Romney 4, Barack Obama 3, Paul 3, America 2, Colorado 2, Mcgregors 2, Libya 2, John Kasich 2, Mr. Romney 2, Pnc 1, Kim 1, Chevron 1, Narrative 1, Pnc Bank 1, Obama Narrative 1, Sorrowful 1, Us 1, Benghazi 1,
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  FOX News    The Journal Editorial Report    News/Business. Paul Gigot discusses news,  
   politics, society and finance. New. (CC) (Stereo)  

    September 29, 2012
    11:00 - 11:30am PDT  

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>> paul: welcome to the journal editorial report. i'm paul gigot. you'll eyes were on ohio this week as they both hit the buckeye state hard. hoping to put 18 electoral votes in their column. real clear politics poll average shows his poll leading there. ohio governor john kasich is on the show and welcome. the polls show that mitt romney is trailing. how do you explain that and is that true. >> you know, paul i don't pay a lot of attention to polls because it depends on what they take and the sample. these guys have been in ohio and they should start paying income tax. this thing is as close can be
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they both wouldn't be here. i expect this to go down to the wire. we are always a swing state. it will be very close. >> paul: so the democrats are saying one of big things that is helping the spent the auto bailout. is that how you lead to to help the president? >> look, we're up 123,000 jobs over the last year and three-quarters. we're actually according to the bureau of labor statistics down 500 jobs, auto jobs in ohio. the situation. chrysler has expanded and ford and gm have shrunk their footprint but we stabilizing. auto industry out here. of the 123,000 jobs, most of them, biggest categories are business services and healthcare. we are having specialty
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manufacturing rebounds but it's hard to argue in fact the bureau of labor statistics we are down net 500 jobs you can attach that to why we are up 123,000 and ohio is actually doing much better. >> one of your colleagues, speaker john boehner had something to say about the race in ohio. i want to get your reaction to it. >> one of the things that probably works against romney in ohio is the fact that governor kasich has done such a good job of fixing businesses in the state and attracting businesses in the state. our unemployment rate in ohio is lower than the national average. i think it's four points lower than the national average. as a result, people are still concerned about the competent and jobs in ohio but certainly isn't like you've seen in other
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states. >> patti ann: no question, is the paradox here that john kasich the republican governor is helping president obama win reelection? >> you know, paul i think i don't accept that. fact of the matter it's hard to defeat an incumbent president. two, ohio has always been a swing state and number three, in order for mitt romney to do better he has to be here more. the situation is we are doing better here. we went from 89 cents rainy day fund to loss of 400,000 jobs to up 123, so people are feeling better here, but we have the wind in our face. you know the uncertainty of threatened tax increases and big debt hanging over our head. if i want the wind at my back, mitt romney has to be elected president because the
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uncertainty is paralyzing businesses. >> paul: but should mitt romney associate himself with policies of successful republican governors with lower unemployment than the national average. i haven't her him do that. >> siechb him do it. i've been with him a number of times -- he can the policies we have pursued out here is not much different than what i saw ronald reagan do. we balanced the budget. we reduced taxes and reduced marginal rights on taxes. we have a our regulatory environment under control but they are not duplicative. those are the things we need to get america moving again. that is what romney talks about.
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when sigh him do that, i feel pretty good about because i think he is on the right path. you may not hear it through the mega phone of national media and he should do it more. >> paul: i paid attention to your race in 2010. you ran against a candidate ted strickland very much like the president is, tried to associate with you wall street and big banks. you beat him. how can mitt romney beat a campaign like that in ohio? >> he's got to be here paul. he was in high hometown not long ago. he had an overflow crowd that was amazing. i've been around a lot of national campaigns. when you are out with him. you see the enthusiasm. look the most important thing for candidate running for president is to get people to understand that he understands their problems or she understands their problems and knows how to fix them.
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jim roads the fourth term governor of ohio, all that matters in ohio is the size of this wallet. sf it's getting fatter, they will do well. if it is small are, they will not do well. romney needs to make the case so peel can see him, know him and conclude he is not only understands their problems but he has a way of fixing them. i assume we'll see you on the trail in ohio. >> all the way to the finish line. >> paul: when we come back, we go to colorado where the candidates will square off wednesday night in their first presidential debate. there is no doubt mitt romney has lot riding on his performance there. our panel has some advice for the governor, next. [ male announcer ] the perfect photo... [ man ] nice!
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>>. >> paul: from ohio to another important swing state. colorado where the candidates will meet next week in their first presidential debate. mitt romney has lot riding on his performance on wednesday night. what do they need to do in that debate and in the weeks ahead to shift the campaign narrative. let's ask wall street columnist dan hennington and dorothy rebenowitz and kim strausel. how far behind is mitt romney now? >> he is behind in nearly every swing state poll there is. now there is an argument campaign is making they are not nearly as far behind as the media polls but there is understanding that they have to make up some ground. >> paul: they are admitting they are behind and they have to make up. it sounds like necessity know it because they are trying to find different shifteding narratives
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to get ahead. have they fastened down a single strategy yet? >> here is what happened since the bad headlines. they have been telling donors on telephone calls of them wanted to do a reboot where they have a forward leaning campaign. much more aggressive about rebit go some of the president's claims, much more about presenting a bold and optimistic future based on their own ideas but they are having a hard time breaking through the media narrative. that is potential ily the big opportunity in the debate. >> paul: i agree with kim. it's an opportunity for mitt romney, american people to see him unadorned, except for the moderator and barack obama. how good a debater is he? >> he is very effective. he is terrific and he sat there fluently answering.
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>> paul: sunday on 60 minutes? >> because he had all this information and insight. that was really impressive. >> paul: do you think she more effective in an environment like that than he is on the stump? >> you can't be tricked in that kind of interview. you don't know what is coming. look at that in contrast what happened to the somewhat disastrous convention speech. before this debate he should be looking at these two speeches where the two opposite polls of success, convention speech where he was in his narrative, byograph and all the rest of it and he has to ask himself, what was made me to make me think this is effective. now everything matters. i have to say i am not going to
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be that person who wants to touch every base --. >> paul: satisfied voter groups, right, right. okay. campaign is leaking strategy, what mitt romney wants to call barack obama on his deceptions. my question is, is it smart to leak the strategy and is that a smart strategy to go after obama's deception? >> it allows barack obama to polish his deception. [ laughter ] >> to are pointed i wouldn't agree with that strategy. that is pretty much what they have been doing up until now so far is reacting to bain capital and the rest of it. which 'puts them on defensive and having them play obama's game. i think romney probably needs to go in there with a thought out
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piece by piece critique of barack obama's economic policies linking him to the weak economy that he has presided over four years. i say that because my sense, paul, there are a substantial number of voters. people lo say i think i'm going to vote for president obama. i don't feel that strongly about it, but i don't think mr. romney has made the case with me. i wish i could hear him out before i make up my mind. this is the opportunity to do that. >> paul: that obama narrative is disaster. don't let mitt romney who is just like george bush brings you back to the disaster and some people are buying that narrative. reluctantly because i think romney has not connected obama's policies to the pain they feel? >> forward looking, the president he would be and let
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him present to the people what the disaster would be in the second term for obama. what would be the case. he doesn't have to worry nice guy and all this. this is the only one and only chance. there is life after the presidency. he ought not to look back and say i didn't risk being an independent. >> paul: i didn't leave anything on the table. what are you hearing how they are going to proceed? >> the big question that remains we're seeing two different romneys out there. sometimes you see an aggressive mr. romney who is out rebutting some of the president's arguments. sometimes i see sorrowful romney that president lament. i think he needs to be aggressive but the media press on him to come across as
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sorrowful, 47% comments. he has to look as though he feels for everybody in admonishing. i think you can be aggressive while speaking for all americans >> paul: he has to link on obama's policies to the bad economy and explain how linked and how his policies would be different and do better. when we come back, opponent says he bears some responsibility for the federal debt that has exploded on his watch. we will give you his answer and ours, next. and the next. there's cash flow options from pnc. solutions to help businesses like yours accelerate receivables, manage payments, and help ensure access to credit. because we know how important cash flow is to reaching your goals. pnc bank.
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mr. obama will accept for the national debt. that was pointed out by steve croft and here is what the president had to say. >> i inherited the biggest deficit in our history. over the last four years, the deficit has gone up but 90% is a consequence of two wars that weren't paid for, as consequence of tax cuts that weren't paid for. a prescription drug plan that wasn't paid for and worst economic crisis since the great depression. that accounts for 10% for the increase in the deficit. >> we asked editor james free man to run the numbers. so let's take these one by one. did president obama inherit the biggest deficit in american history? >> it wasn't the biggest and he didn't inherit it. world war ii had bigger
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deficits. he didn't really inherit it. he helped create it. 2009 was the first year in office and especially something he doesn't seem to want to remember, stimulus $8000 billion. >> paul: as a share of the economy it was 3.2%. it did balloon to 10.1% in 2009. i would give president bush some credit for that because in fact the recession had started. the recession for his first six months of his term. what you are saying there is a thing called $830 billion spending. >> february 2009 that president obama doesn't want to take any credit for but it passed six months. >> he signed it into law. the stimulus was huge. he signed a spending bill
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shortly before in the spring of 2009. but even in the beginning of 2009 where he wants to throw it on all on president bush. this is when president obama was in senate. he voted for tarp. he had voted for the budget resolution that year. so he really has a hand in all of this spending. saw in that graph the big spike was in that year. >> let's take a look at spending numbers. spending traditionally has 18-20%. 21% of g.d.p. but under president obama it has spiked 25% of the fiscal 2009 and stayed very high above 24%. >> he has taken us to a new normal level of spending. this is why it's all about for him trying to deny pa the person over that 2009 spending. it skyrockets and we're basically been running during his term as a percentage of
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g.d.p. a roughly flat level. if he can avoid blame for getting it up to that level it seems reasonable. >> paul: what about the point two wars that weren't paid for and tax cuts in 2001 and 2003? >> when you look at revenue to the gosmt. bush tax guts happened in 2001 and 2003 and you see a surge in gosmt revenue. you were so by 2006 and 2007 it was over 18% of the economy? >> historical norm. they fall as we go into recession. people needing more benefits on the revenue side, people making less money. you are always going to see taxes decline at that point. >> paul: economy has grown so slowly.
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>> that is really low. so that is big chunk of the explanation. >> the whole explanation. obama spending, running up the deficit and not off set by higher taxes because of a slow economy we would say because of obama policies on regulatory tax and other things. >> paul: the president himself decided to extend them for two years in 2010. remember that deal with republicans? he said we needed it to help the economy. >> also the other part the blame he throws on mr. bush, the prescription drug plan. >> which i would put on mr. bush too. >> but obama wree rewrote it and spent more money. you wonder, 10%, in he is going to make up some money, why didn't he say zero? >> paul: how much of his statement is true, 10%.
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[ laughter ] >> zero because he has been signing spending bills. it's all on his signature. >> paul: the latest on the investigation and the deadliest and consulate in libya and changing stories as many are demanding answers. will we get them? ♪ leaving my homeland ♪ pling a lone hand ♪ my life begins today ♪ ♪ fly by night away from here ♪ ♪ change my life again ♪ ♪ fly by night, goodbye my dear ♪ ♪ my ship isn't coming ♪ and i just can't pretend oww! ♪ [ male announcer ] careful, you're no longer invisible in a midsize sedan. the volkswagen passat. the 2012 motor trend car of the year. that's the power of german engineering. trick question. love everything abt this country! including prilosec otc. you know one pill each morning treats your frequent heartburn
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>>. live from america's election headquarters, i'm arthel nevil. new calls for susan rice to resign. peter king saying ambassador rice should step down for, quote misleading claims about the deadly attack in libya. he called it a spontaneous reaction to an anti-islamic film. they say it was a coordinated terrorist attack.
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democratic chairman john kerry defending her today, i'm deeply disturbed by efforts to find the politics instead of finding the facts in this debate. it killed four americans including chris stevens. i'm i'll see you right here at 6:00 p.m. eastern on the fox news channel. >> paul: hillary clinton suggested that the consulate attack in benghazi involved the al-qaeda affiliate in north africa it was like will goly the work of the terrorist group. that admission led to many questions what took the administration so long with john mccain and lindsay graham issuing this statement. we recognize that al-qaeda involvement in the terrorist